CVS/Eckerd deal
This article was originally published in The Rose Sheet
Executive Summary
CVS will voluntarily refile its pre-merger notification and report form to comply with a request from the Federal Trade Commission, company announces May 14. The retailer's original April 16 submission prompted an informal request from FTC staff for additional information regarding the transaction, in which CVS will purchase about 1,260 Eckerd stores from J.C. Penney (1"The Rose Sheet" April 12, 2004, In Brief). The refiling allows FTC more time to "review the information submitted by CVS before the staff must determine what additional information, if any, it will formally request," according to CVS...
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J.C. Penney will sell its Eckerd drugstore chain to Brooks Pharmacy owner Jean Coutu and drugstore retailer CVS for $4.53 bil., company announces April 5. Jean Coutu will acquire 1,539 Eckerd stores and support facilities located in thirteen Northeast and mid-Atlantic states, as well as the Eckerd home office for $2.38 bil. Stores under Jean Coutu will retain the Eckerd name. CVS will acquire 1,260 Eckerd stores and support facilities located in southern states including Florida, Texas and Arizona, in addition to Eckerd's pharmacy benefits management and mail order business, for $2.15 bil. The firm plans to reopen the Eckerd stores under the CVS name. Transactions are expected to close by the end of the second quarter, subject to regulatory approvals...
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Global Pharma Guidance Tracker – March 2024
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